Hi, esskay.
What you need is a buyer’s agent – make sure you get someone who is TOTALLY independent – there are many who are aligned to real estate agents, and will sell the properties for the agent – not what I’d call independent! There are others who are aligned to the developer, same thing! If you wish to contact me directly, my email…[Read more]

Once, I would have agreed that the cap gain is low – but having lived thru this latest boom, no longer believe that. Now I believe that cap gains come a bit less often, but they still come.
eg we bought a property under market value at mortgagee sale in 98 for $65k, just sold for $105k- I think you would agree that’s not bad, and it was +ve cash…[Read more]

Hi, Ivan.
Not all is lost. There is a positive……..if you are stuck with this property – assuming contracts have exchange (if they haven’t you should be able to get out of the contract)- then do a quick upgrade and on sell for a profit, then learn by your mistake. Find someone who has experience at mortgage broking, and who can give you…[Read more]

[^]Have just done a drive around – for a week – thru central coast of qld – from Bundaberg to Mackay. Lots of +ve places to be had up there, all with big populations and large investments going on – eg Gladstone, pop approx 32000 Comalco putting in a development 1.54billion with 5,000 new jobs – and I’m sure they won’t all be single, so they need…[Read more]

Hi, Sandi.
It depends on the vendor and their solicitor. We just did a paint job on a unit while waiting for settlement – but the vendor was doing her own conveyancing – ie no solicitor to advise her not to !! They may let u in at market rental, but normally u can’t re-let until settlement. Good hunting[^]

David O’Brien is a broker who mite b able 2 help – but u would probably be looking at a non-conforming loan and the rates would be steep. If u want to contact him, his email is
ahob@bigpond.net.au. Good luck[]

If you can afford to keep it then do. But, go get some advice – what about a self managed super fund, and that’s only taxable at 15%…..but you could use it to leverage into a few more properties, with tax advantages attached to all of them!!!!!!![^]

Firstly, when they are paid of in 20 years they will be worth at least double, and maybe 4 times what you paid (assuming you look after them), plus you will have received rent for each year, and – if you still work – you will have had great tax advantages also.
Personally I like bagged and painted as well, and an example in Ballina of an old unit…[Read more]

Hi, Leigh.
Deposit bonds are only issued whenu can prove that u have the deposit or finance for it. They are good 4 ppl who have their money tied up in shares/settlement funds/term deposits etc. They are not dodgy, but r not well known yet. Even so, there is a large % of deals being done with them now. Most brokers and some banks will issue them [^]

I use an accounting system called CASH FLOW MANAGER which is supplied by my accountant, and is quite simple to use – happy to give u her details if u want to email me 4 it. I think it costs about $250, but don’t quote me on that.[^]

Judge it for yourself, not on what others say. If you get a bad feeling, then rely on that. Otherwise, there is always someone ready to rain on your parade!!!!![]

Even at 15% Mike Robinson’s $30k property is going to be +ve[]. The wraps should all remain unaffected[^], and I’m sure the banks won’t be calling in loans from people with lots of properties – that’s their last resort[xx(]. Cashing up now is also good if it suits you, but that is not what this site is mainly about – hence the upset – most people…[Read more]

Tails277, it’s the old question of a glass half full or half empty. this site is definitely on the half full side. So, if your assumptions are correct, and there are people who will be badly affected by an increase in rates, then there will be some great buys to be had in that time as people look to get out of their debt. We’ll be waiting!!!!![8D]

Hi, Robert.
An answer on “doubts”………….sure have them, but, keep them in context………….and be aware that if anything does go wrong, you will be so much the wiser……..mistakes are hard to take, but they are absolutely normal…..and vital to your growth. I have found myself sorely disappointed by letting doubts translate into fear,…[Read more]

Have done this myself over last 12 mths, and report that instead of being charged $3k to lose us $7k, I have just made a nice profit of $44k on a $76k beach block. Go for it……..[][8D]

Also, have you got your own self managed super fund? BECAUSE the cgt is charged at super rate of only 15%. But……super funds can’t borrow either. something for the future?

I think that roll over of cgt to next property is only applicable in U>S>A>? correct me if I’m wrong, someone.
Don’t sell your investment property- try the banks, they may look at you, but make sure you get a no fees loan – their rates may be lower, but by the time you pay their fees, you might be better off somewhere else. Try a broker again -…[Read more]

Have also heard of placing ads asking to buy homes from people having financial difficulty – if it helps them out of a bind without going bankrupt, and gets you a cheap property at the same time??????? This has only been anecdotal, have not spoken to anyone who has actually tried this in OZ. Has anyone else?

HI, Mike. have been doing research, as always, and had noticed the great prices out there, but wonder at the vacancy factor? Do you do rentals, or wraps?

Same thing happened to me 15 months ago – I just bailed out and because I dropped a good payslip, I had to put in big time – which has forced me to learn very quickly. It’s your choice, and if you’re strong enough to treat it like a job, then you will succeed. One warning tho’, be aware of what might happen if your reno (and therefore it’s profit)…[Read more]